Anhydrous Aluminum Chloride Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Anhydrous Aluminum Chloride Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market for Anhydrous Aluminum Chloride is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are the increasing usage in manufacturing pesticides for agriculture sector and growing demand as catalyst in chemical manufacturing. Volatility in raw materials prices and harmful waste effluents are expected to hinder the growth of the market studied.

• The anhydrous aluminum chloride market is blooming owing to the increasing application of anhydrous aluminum chloride as a catalyst in pharmaceuticals and chemical manufacturing including agriculture chemicals, polymers, flavors, and fragrances.
• The growth in chemical manufacturing industry and cosmetics industry will provide ample opportunities for the anhydrous aluminum chloride market to grow over the forecast period.
• Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, India.

• Anhydrous aluminum chloride market is expected to bloom due to the increased use of anhydrous aluminum chloride as catalyst in producing chemical intermediates such as dyes namely anthraquinone, ethylbenzene and metaphenoxy benzaldehyde.
• Anhydrous aluminum chloride acts as a lewis acid owing to which it is actively used as catalyst in pharmaceuticals industry to manufacture ibuprofen and other drugs which is propelling the demand of anhydrous aluminum chloride market.
• The usage of anhydrous aluminum chloride market as the primary catalyst in Friedel-Crafts reactions, both alkylation and acylation, also in polymerization and isomerization of hydrocarbons is stimulating the market demand.
• It is used in petrochemical industry in the production of hydrocarbon resins and in the production of inorganic chemicals like titanium dioxide and fumed alumina which is enhancing the market growth.
• The global chemical industry is expected to grow at a CAGR of over 4% which would help in the growth of anhydrous aluminum chloride market.
• Owing to all the above-mentioned factors for anhydrous aluminum chloride, its market is expected to grow rapidly over the forecast period.

• Asia-Pacific region dominated the global market share. With growing application in countries such as China, Japan and India the utilization of anhydrous aluminum chloride is increasing in the region.
• The Cosmetics and Pharmaceuticals sectors are increasing in countries like India, China, and Japan owing to change in lifestyles. The cosmetics sector is expected to grow at a CAGR of up to 5% during the forecast period in the region. This creates a major scope for this market in the utilization of anhydrous aluminum chloride in the coming future.
• China is expected to grow fastest in the region due to rapid industrialization, the demand for anhydrous aluminum chloride to be used as raw material and catalyst is increasing in various manufacturing industries.
• Increased government spending on industrial development namely in chemical manufacturing, pharmaceuticals, and cosmetics in countries like China and India are expected to stimulate the market demand over the forecast period.
• Some of the largest producers of anhydrous aluminum chloride are located in Asia-Pacific. Some of the leading companies in the production of anhydrous aluminum chloride are BASF SE, Gujarat Alkalies & Chemicals Ltd., and Aditya Birla Chemicals.
• The aforementioned factors, coupled with government support, are contributing to the increasing demand for anhydrous aluminum chloride during the forecast period.

The anhydrous aluminum chloride market is fragmented with players accounting for a marginal share of the market. The key market players include Gulbrandsen, Base Metal Group, Nippon Light Metal Company Ltd., Aditya Birla Chemicals, and Kanto Denka Kogyo.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support